(Reuters) - U.S. private equity giant KKR & Co Inc (KKR.N) said on Thursday it will acquire a 50 percent stake in Seattle-based aircraft leasing company Altavair AirFinance and make a $1 billion capital commitment to create a portfolio of leased commercial aircraft with partner.
KKR’s initial investment will go toward the acquisition of six cargo aircraft on long-term lease, the companies said in a statement reut.rs/2SwN0lu.
The investment firm will make the $1 billion investment mainly from its credit and infrastructure funds.
KKR was advised by Simpson Thacher & Bartlett. Altavair was advised by Milbank.
Reporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli